Tuesday, April 14, 2009

The Achieving a Better Life Experience Act (ABLE) of 2009 (S 493/HR 1205) has been introduced in both the Senate and House. The ABLE Act will give individuals with disabilities and their families the ability to save for their child's future just like every other American family, and help people with disabilities live full, productive lives in their communities.

The ABLE Act will allow individuals with disabilities to create a disability savings accounts or 'ABLE Accounts' that would accrue interest tax-free. The account could fund a variety of essential expenses for the individual, including medical and dental care, education, community based supports, employment training, assistive technology, housing, and transportation. The legislation prohibits amounts held by, or paid or distributed from any ABLE accounts from being treated as income or assets when determining eligibility for benefits provide by any Federal benefits program.

Asset development is one step toward improving economic self-sufficiency, and the legislation's focus on encouraging asset development will greatly incentivize people with disabilities to live more productive lives through earning and saving resources for their future.

Action Required:

If your Representative and/or Senators are not already a cosponsor of S. 493/H.R. 1205, please call them to cosponsor this important legislation (a list of Members who have already signed on to the bill is included below).